'Republican budget cuts have decimated the IRS's ability to root out this kind of offshore tax evasion scheme,' said Sen. Ron Wyden.
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with the U.S. Department of Justice that required the bank to crack down on tax dodging by its U.S. clients.the Justice Department, Credit Suisse admitted to"knowingly and willfully" helping U.S. clients hide offshore assets and income from the Internal Revenue Service .states that it obtained"voluminous records detailing the role Credit Suisse employees played in assisting U.S. businessman Dan Horsky in concealing over $220 million in offshore accounts from the IRS.
"Republican budget cuts have decimated the IRS's ability to root out this kind of offshore tax evasion scheme, but Democrats are committed to stepping up enforcement against wealthy tax cheats."
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